Coinbase Plans To Acquire Crypto Data Aggregator Zabo

Digital Currency startup, Zabo made an announcement, stating that they are planning to join digital asset behemoth, Coinbase.

As the announcement took place, information about any specific terms and rules were not mentioned, and the payment numbers are also a mystery to the public. Zabo is a Data Aggregation firm working from the city of Dallas, which will now join hands with the hugely popular crypto exchange, Coinbase. Zabo, which is basically an API, came into existence in the market back in 2018 and provided services for connections to different digital asset-based exchanges, wallets, and protocols. Zabo also gives users the opportunity to share their data, such as balance values, Payment Addresses, and Payment archives.

Excitement from Zabo

Co-founders at Zabo gave out statements about the partnership, saying that this is quite an exciting opportunity to work with Coinbase in order to gain the relevant experience of operating in the crypto market because Coinbase is one of the biggest exchanges that has worked the most in making cryptocurrency something that is mainstream for the public, to be used as a legit payment method. They also revealed that all of the dealing formalities are expected to be completed within a few weeks. However, no information about payments of the acquisition was made.

Co-founders also stated that they look forward to working with an experienced company like Coinbase, which will indeed bring forth many advantages and benefits to the public, as there would be a sort of economic and financial freedom for the people.

Coinbase Shares

Coinbase has been on a roll since the past year. The worldwide popular exchange achieved an impressive milestone this year, becoming one of the first-ever prime exchanges to enable its shares to be sold to the public. The starting price of a single share was around $380, and according to that time period, the market value was hovering near the $100 Billion mark. The starting price was a bit higher than what was initially posted, but now the price of the stocks has shown a decline, trading now at only $240 from the $250 expected price. The company also revealed plans on a fund-raising event to gather up around a Billion dollars to enhance its own growth rate in the market.